Online services provider Web.com (News - Alert) has acquired SnapNames, a domain auctions platform, from Internet holdings firm KeyDrive S.A., merging the companies’ services for online marketing and domain name auctions.
The acquisition will allow Web.com to increase the number of domain names it offers to customers. Web.com is currently in partnership with Rightside (an arm of Demand Media) for NameJet, which has become one of SnapNames’ competitors. Web.com tells us that the new acquisition will “complement” SnapNames’ services.
Demand Media will not be involved in this acquisition, according to a comment from Web.com, which was requested by Domain Name Wire.
“We are very pleased to bring SnapNames under the Web.com umbrella,” said David L. Brown, chairman, CEO and president of Web.com in a statement. “This acquisition enables us to enhance our existing domain related assets and provide additional services for customers who are looking for specific domain name addresses. In today’s expanding domain resale marketplace, SnapNames is a global industry leader with experience and expertise in domain lifecycle management and auction services.”
As well as the Rightside partnership, Web.com owns Network Solutions (News - Alert) and Register.com. The SnapNames acquisition gives the Internet services company a sizeable stake of the marketplace for providing web services for small to medium sized companies.
The terms of the acquisition have not been disclosed but Web.com has stated it will provide some details upon the release of their first quarter financial results for 2014.
“Web.com expects this transaction to be immaterial to 2014 financial results,” it said via a statement.